DETERMINANTS OF FINANCIAL STRESS AMONG MALAYSIAN UNIVERSITY STUDENTS: THE ROLES OF SOCIOECONOMIC FACTORS, FINANCIAL BEHAVIOUR AND FINANCIAL LITERACY
DOI:
https://doi.org/10.35631/IJEPC.1164105Keywords:
Financial Behaviour, Financial Literacy, Financial Stress, Higher Education, Socioeconomic Status, UiTM StudentsAbstract
Financial stress constitutes a substantial threat to university students' psychological well-being and academic achievement, particularly in the context of escalating living expenses and constrained financial resources. This research investigates the associations among socioeconomic factors, financial behaviour, financial literacy, and financial stress in undergraduate students at Universiti Teknologi MARA (UiTM). A quantitative, cross-sectional survey was conducted, collecting primary data from 201 students across three UiTM campuses (Seremban 3, Shah Alam, and Raub) through a structured questionnaire. Data analysis involved descriptive statistics and Spearman's rank-order correlation. The results indicated a high overall level of financial stress among respondents (Mean = 4.07, SD = 0.89). Additionally, non-parametric correlation analysis identified statistically significant, moderate positive relationships between financial stress and socioeconomic factors (rs = 0.493, p < 0.001), financial behaviour (rs = 0.470, p < 0.001), and financial literacy (rs = 0.448, p < 0.001). These findings suggest that socioeconomic constraints directly increase stress, while higher financial literacy may heighten awareness of economic vulnerabilities, thereby intensifying perceived stress. The study offers empirical evidence to inform university administrators and policymakers in developing targeted financial support initiatives and comprehensive financial management programs.
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